Pensions Dashboards Programme Market Engagement Webinar 7 th July - - PowerPoint PPT Presentation

Pensions Dashboards Programme

Market Engagement

Webinar 7th July 2020 Raman Dhaliwal, David Reid, Rahat Khalil Please ask any questions in the Q&A box

pensionsdashboardsprogramme.org.uk

PDP Background

The aim of the Pensions Dashboards Programme (PDP) is to connect individuals with their pensions by creating the central architecture to enable the Pensions Dashboards to operate.

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Aim of the Pensions Dashboards:

Enable individuals to access their pensions information online, securely and all in one place, thereby supporting better planning for retirement and growing financial wellbeing. The Government set out its position on the delivery of Pensions Dashboards in its response to the consultation in April 2019 stating that:

❑ Government will legislate to compel pension providers and

schemes to provide people's pension information to them via dashboards; and

❑ The Money and Pensions Service (MaPS) will have responsibility for

delivering the digital architecture, working with industry. It also set some overarching design principles around:

❑ Putting the individual at the heart of the process; ❑ Ensuring individuals’ data is secure, accurate and simple to

understand; and

❑ Ensuring that the individual is always in control over who has

access to their data.

Proposed digital architecture – overview of the Ecosystem

MaPS DASHBOARD DASHBOARD DASHBOARD DASHBOARD PENSION FINDER SERVICE IDENTITY SERVICE GOVERNANCE REGISTER STATE PENSIONS PENSION PROVIDER PENSION SCHEME PENSION SCHEME PENSION PROVIDER INTEGRATED SERVICE PROVIDER

State Pension - DWP Key MaPS Dashboard - MaPS Digital Architecture - PDP Dashboards/Pension Providers and Schemes - Industry

Ecosystem Governance Framework (Technical, security, design, accessibility, performance and user experience standards) - PDP to set and monitor MaPS DASHBOARD PROVIDER Regulators TPR & FCA Government DWP & HMT MaPS Information and Guidance Services DASHBOARD PROVIDER DASHBOARD PROVIDER Pensions information flows Find request CONSENT AND AUTHORISATION Find request and response to dashboard Response – register with consent and authorisation server

Where are we now

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Indicative Programme Phases

Objectives of Market Engagement

Process:

• The PDP issued a market

engagement notice to raise awareness in the wider market of a potential future procurement exercise to procure the requirements for a Pension Finder Service and Governance Register which form a part of the proposed central digital architecture.

• Suppliers are being invited to

complete a Request for Information Questionnaire as part of this process. This will allow us to identify the readiness, capacity and capability of potential suppliers prior to undertaking a formal competitive procurement exercise.

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• Brief suppliers and pensions industry organisations

interested in the future digital architecture procurement opportunity for a Pension Finder Service and Governance Register.

• Engage with suppliers to identify the technical

components presently available within the marketplace, to help inform the development of the digital architecture requirements.

• Receive feedback from suppliers on how they propose

to meet key aspects of the requirements.

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Next Steps

• Market engagement concludes 31 July 2020
• Review responses – August 2020
• Advise route to market for PFS and Governance

Register – Sept / Oct 2020

• Commence IDV market engagement – Nov 2020
• Commence procurement – Autumn 2020

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Q&A session

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Appendix: Diagrams

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Components and User Interaction

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User Journey Find Pensions